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The new owner of the abandoned Mr. Wayne Hairstylists property on Washington Street is now planning three market rate, townhouse-style apartments.
Mark A. Colantonio of North Andover purchased the property from Richard P. Early Jr. in the fall. Early won a special permit from the Haverhill City Council in 2023 to construct a three-unit townhouse on the parcel at 462 Washington St. The land includes a paved parking lot and is at the corner of Ayer Street.
At the time Early was working with Bread and Roses Housing Development of Lawrence and plan was to rent them at affordable rather than market rates. Councilors praised him for finding a way to provide lower rate rentals for low-income residents.
Colantonio said market forces have prompted him to reconsider that plan.
Colantonio, who rents 14 other apartments in Haverhill and grew up in subsidized housing in Boston, said he works hard to keep his rents reasonable,
“I keep rates as low as I can and I try not to be that guy that raises rents just because I can,” Colantonio told WHAV. “I only increase rents if taxes or other expenses go up.”
He said he expects it will cost $1 million to build the new units and that if he decides to sell them, each two-bedroom townhouse would bring $500,000. Each unit will have a garage and an attic space that could be finished to create a third bedroom, he said.
The developer said he already has permits from the city to demolish the current structure and dig a new foundation. He hopes to raze the former hair salon at the end of this week, weather permitting.